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In a surprise announcement that has rocked the mobile world Sunday, AT&T has announced what's being called a definitive agreement to acquire T-Mobile USA Deutsche Telekom for $39 billion in cash and stock combo. With this transaction, the wireless giant says in a formal statement heralding the buy, "AT&T commits to a significant expansion of robust 4G LTE deployment to 95 percent of the U.S. population to reach an additional 46.5 million Americans beyond current plans – including rural communities and small towns."

If the deal is ultimately given the green light via regulatory approval, AT&T will effectively become the largest wireless provider in the US. The move comes as a major blow to Verizon as the carriers (both of which now boast the iPhone) duke it out to an entirely new degree for mobile supremacy. By bringing T-Mobile customers into the fold at AT&T, the carrier is poised to potentially regain some of the mobile mojo it lost to Verizon earlier this year.

“This transaction represents a major commitment to strengthen and expand critical infrastructure for our nation’s future,” said Randall Stephenson, AT&T Chairman and CEO. “It will improve network quality, and it will bring advanced LTE capabilities to more than 294 million people. Mobile broadband networks drive economic opportunity everywhere, and they enable the expanding high-tech ecosystem that includes device makers, cloud and content providers, app developers, customers, and more. During the past few years, America’s high-tech industry has delivered innovation at unprecedented speed, and this combination will accelerate its continued growth.”